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The Naira on Monday depreciated to ₦1,510/$1 in the parallel market from ₦1,505/$1 last weekend.
However, the Naira appreciated to ₦1,499/$1 in the Nigerian Foreign Exchange Market (NFEM)
Data published by the Central Bank of Nigeria (CBN) showed that the indicative exchange rate for the Naira fell to ₦1,499/$1 from ₦1,500/$1 last week Friday, indicating ₦1 appreciation for the Naira.
Consequently, the margin between the parallel market and NFEM rate widened to ₦11/$1 from N5/$1 last weekend.
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